April 15, 2008 – IMS Health, the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced that the 2007 global prescription market grew 6.4 percent over the prior year. This takes the estimated total global prescription market to $712 billion based on sales, an increase of $178 billion over the past five years.
The United States is still the largest single market at $286.5 billion. However, it contributed only 25.5 percent of the total growth to the global market in 2007 – the lowest-ever level of contribution.
Latin America markets continued their rapid expansion, with growth of 11.6 percent in 2007, while the Asian markets experienced double-digit growth due to the expansion of healthcare access in the region.
Across the five major European markets, growth in aggregate was 4.8 percent, largely reflecting the impact of health policy and funding initiatives.
(As per the article published on pharmalive.com)
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